The EU’s top brass have a cunning plan

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The Greek economy may be flatlining, Spain’s is in intensive care and Italy’s
is running a dangerously high temperature — but international investors and
citizens alike can rest easy. The European Union machine is busy working on
a cure for the contagion.

The solution is likely to take the form of a federal economic union of the
kind now demanded by Angela Merkel and long desired by the apostles of a
United States of Europe. The catch is that the new arrangement could take
years of fraught negotiation and new treaties to see the light of day. The
proposals will also